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Visa and Mastercard near settlement to reduce merchant card fees
Visa and Mastercard plan to cut merchant fees and ease card‑acceptance rules as part of looming settlement.
Visa and Mastercard are reportedly close to finalising a settlement with merchants that will lower swipe fees by about 0.1 percentage point over several years and allow merchants greater flexibility in card acceptance.
The move stems from a long‑running legal battle over interchange costs. Although neither company has officially confirmed the terms, sources cited by the Wall Street Journal indicate the deal would divide cards into categories (rewards, no‑rewards, business) and revise “anti‑steering” rules.
The settlement could reshape the payments landscape and affect retailer margins globally.